Seagate retires $186M in debt, issuing 2M shares and cash in private exchange

Filed May 28, 2026 · Period ending May 26, 2026 · ~1 min read

Key Changes

• high

  Seagate closed a private exchange retiring $185.9 million of its 3.50% notes due 2028, paying $185.9 million cash plus issuing 2,023,124 new ordinary shares to a limited number of noteholders.

  Item 8.01 verify on EDGAR →
• medium

  The 2 million share issuance represents dilution to existing shareholders, though it reduces debt obligations by eliminating notes maturing in 2028.

  Item 3.02 verify on EDGAR →
• medium

  Shares were issued under Section 4(a)(2) exemption in a private placement to accredited investors, not through public offering, with share count determined based on May 21, 2026 trading prices.

  Item 3.02 verify on EDGAR →